Tuition and Financial Aid
2023-2024 Tuition & Fees
$13,260 for full-time pre-kindergarten – 8th grade students
$9,945 for part-time five half day pre-kindergarten students
Sibling Discount – The Banner School offers a sibling discount of 5% for the second child and 10% for the third child for full-time students who do not receive financial aid through Banner’s FACTS Financial Aid program.
Application Fee – An application fee of $50 is required for each application for admission.
Tuition Deposit – A non-refundable tuition deposit of $1,000 is required with the return of a signed enrollment contract for all students unless applying for Financial Aid. Families that choose to apply through Banner’s FACTS Financial Aid Program must return their contract along with a reduced rate non-refundable $200 deposit.
Optional Fees
- Middle School Athletics – $125 per sport, per season
- After School Clubs
- Extended Care
Payment Plans – there are three tuition payment plans available:
Plan A: Deposit. Balance (total tuition less deposit and approved financial aid) is due in full on or before August 1, 2023. A $100.00 discount is applied to this balance.
Plan B: Deposit. Two installments follow: 60% of total tuition (less deposit and approved financial aid) is due on or before August 1, 2023. The remaining 40% of tuition is paid on or before December 1, 2023. A $30 bookkeeping fee is charged for this plan. All families who elect this payment option must have payments deducted from their bank account by automatic debit through the FACTS program.
Plan C: Deposit. Balance of account (total tuition less deposit and approved financial aid) is paid in either twelve (12) or ten (10) equal installments, which are due on the first day of each month beginning August 1, 2023 and continuing through May 2023 or July 2023. A $70 bookkeeping fee is charged for this plan. All families who elect this payment option must have payments deducted from their bank account by automatic debit through the FACTS program.
Once you have enrolled, you may set up your payment plan online in the Financial section of the Family Portal app.
Yes, you can afford a Banner Education!
Did you know? A third of Banner families receive some sort of financial assistance to make a Banner education affordable. As Frederick County’s only non-sectarian non-profit independent school, we use 10% of our annual budget to support our financial aid program. Those funds support our diverse population of students and allow an independent school education to be within reach for those who qualify. Our financial aid program is not the only option. We have compiled a number of other resources that may be available to you.
FACTS Financial Aid Program
Banner partners with FACTS, a third party financial services company, to manage aid applications and payment plans. The financial aid window typically opens in the late winter/early spring for the upcoming school year. Applications are reviewed throughout the spring and summer until we have reached our allotment for financial aid. The maximum percentage of financial aid that can be awarded is 50%, though the amount of financial assistance ranges from to 10-40%.
How do I apply?
The financial aid process is one of the final pieces of the admissions process. You can apply for aid at any time, but will not be reviewed until a signed enrollment contract is on file.
- To determine your eligibility, you’ll need to set up an account at https://online.factsmgt.com/AID and complete the financial aid application. Financial aid awards cannot be determined without this, as this allows the school to evaluate your unique financial situation. You will also need to include financial statements with your application. Failure to do so may slow down the financial aid review.
- Our average turnaround time once an application has been verified by FACTS is two weeks. Applications will not be verified by FACTS until all documents have been submitted.
- If you are approved for financial aid, you will be provided documentation of award status and your payment plan will be adjusted accordingly.
Banner School Referral Program
Our greatest ambassadors are our families, and as a token of thanks to those who share their love of Banner with others, we started the Referral Program to recognize all that you do to help the Banner community grow. For each family that you personally refer who chooses to enroll their child(ren) at Banner, you are eligible to receive a $500 tuition credit off the yearly school tuition.
Broadening Options & Opportunities for Students Today (BOOST) Scholarship Program
Started in 2016, this program was created to give K-12 students from lower-income families an opportunity to find the best educational fit for their needs by providing scholarships for their children to attend a nonpublic school. The application opens in mid winter or early spring of each calendar year, and closes in the summer. The Banner School is considered a BOOST-eligible school, and your scholarship will be sent directly to the school to be managed as part of your payment plan when you enroll.
For more information, please visit marylandboost.org and click on “Apply for BOOST” to start your application.
Maryland 529
Due to legislation passed in 2017, Maryland 529 plans can now be used toward kindergarten through 12th grade tuition. Families may use up to $10,000 per beneficiary per year for tuition at an elementary or secondary public, private, or religious school
For more information, please visit maryland529.com/K-12
Dependent Care FSA Programs
A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to pay for eligible dependent care services, such as preschool tuition, summer day camp, before or after school programs, and childcare. You may contribute between $120 and $5,000 a year, or up to $2,500 a year if married and filing separately, to reimburse yourself for eligible dependent care expenses.
The State of Maryland has information about their FSA program available here: https://dbm.maryland.gov/benefits/Pages/FlexibleSpending.aspx
For Federal Employees, you typically have to sign up for your account during Open Season each year, but check with your agency’s HR department, or the FSAFeds site at https://www.fsafeds.com/explore/dcfsa
Child and Dependent Care Credit
You may be able to claim the child and dependent care credit if you paid expenses for the care of a qualifying individual to enable you (and your spouse, if filing a joint return) to work or actively look for work. The amount of the credit is a percentage of the amount of work-related expenses you paid to a care provider and depends on your adjusted gross income. For more information, please see the IRS website or consult your accountant.